Mexico Drops Annual Growth Projection To 2.7%

Mexico's National Statistics Institute says the economy grew 1.8 percent in the first quarter of this year, compared to the same period last year. The Mexican government says the sluggish growth has caused it to drop projections for 2014 to 2.7 percent from the original 3.9 percent projection. The weaker growth report came two days after Mexico's Central Bank also lowered the annual forecast for economic growth this year to between 2.3 and 3.3 percent from the original 3-4 percent.

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